Healthcare of Ontario Pension Plan Trust Fund Sells 57,535 Shares of Pagaya Technologies Ltd. (NASDAQ:PGY)

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in shares of Pagaya Technologies Ltd. (NASDAQ:PGY - Free Report) by 31.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,799 shares of the company's stock after selling 57,535 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.18% of Pagaya Technologies worth $1,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in shares of Pagaya Technologies during the 2nd quarter worth $74,000. SG Americas Securities LLC purchased a new position in shares of Pagaya Technologies during the 2nd quarter valued at about $101,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Pagaya Technologies in the 2nd quarter worth approximately $166,000. The Manufacturers Life Insurance Company purchased a new stake in Pagaya Technologies in the second quarter worth approximately $187,000. Finally, Cornerstone Investment Partners LLC bought a new position in Pagaya Technologies during the first quarter valued at approximately $158,000. 57.14% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CTO Avital Pardo sold 11,601 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $15.83, for a total value of $183,643.83. Following the sale, the chief technology officer now directly owns 433,125 shares in the company, valued at approximately $6,856,368.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Pagaya Technologies news, CFO Evangelos Perros sold 24,171 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $13.55, for a total transaction of $327,517.05. Following the completion of the transaction, the chief financial officer now owns 23,791 shares in the company, valued at $322,368.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Avital Pardo sold 11,601 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $15.83, for a total transaction of $183,643.83. Following the completion of the sale, the chief technology officer now owns 433,125 shares in the company, valued at approximately $6,856,368.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,453 shares of company stock worth $973,545 in the last 90 days. 19.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods initiated coverage on Pagaya Technologies in a report on Monday, June 17th. They issued an "outperform" rating and a $23.00 price objective on the stock. Benchmark started coverage on Pagaya Technologies in a research note on Monday, August 26th. They issued a "buy" rating and a $21.00 price target on the stock. Wedbush reissued a "neutral" rating and set a $13.00 price objective on shares of Pagaya Technologies in a research note on Monday, August 12th. Oppenheimer started coverage on shares of Pagaya Technologies in a research note on Tuesday, October 1st. They issued an "outperform" rating and a $12.00 target price on the stock. Finally, B. Riley lowered their price target on shares of Pagaya Technologies from $48.00 to $36.00 and set a "buy" rating for the company in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.89.

Pagaya Technologies Price Performance

Shares of PGY stock traded down $0.04 on Tuesday, hitting $10.13. 798,523 shares of the stock traded hands, compared to its average volume of 1,258,219. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 1.50. Pagaya Technologies Ltd. has a 52 week low of $8.56 and a 52 week high of $20.50. The firm has a 50 day simple moving average of $12.53 and a two-hundred day simple moving average of $12.06. The firm has a market cap of $718.22 million, a price-to-earnings ratio of -7.21 and a beta of 6.36.

Pagaya Technologies (NASDAQ:PGY - Get Free Report) last released its earnings results on Friday, August 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.11). The business had revenue of $250.34 million for the quarter, compared to analysts' expectations of $239.16 million. Pagaya Technologies had a negative return on equity of 3.10% and a negative net margin of 14.58%. As a group, equities research analysts predict that Pagaya Technologies Ltd. will post -0.11 earnings per share for the current fiscal year.

Pagaya Technologies Company Profile

Pagaya Technologies Ltd., a product-focused technology company, deploys data science and proprietary artificial intelligence-powered technology for financial institutions and investors in the United States, Israel, the Cayman Islands, and internationally. The company develops and implements proprietary artificial intelligence technology and related software solutions to assist partners to originate loans and other assets.